MSH Capital Advisors LLC Takes $631,000 Position in Bank of America Co. (NYSE:BAC)

MSH Capital Advisors LLC bought a new stake in Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,368 shares of the financial services provider’s stock, valued at approximately $631,000.

Several other hedge funds also recently modified their holdings of the company. Collier Financial acquired a new position in Bank of America in the 4th quarter valued at $25,000. Life Planning Partners Inc increased its stake in Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 545,936 shares during the last quarter. Graney & King LLC purchased a new position in Bank of America during the fourth quarter worth about $25,000. Fairway Wealth LLC acquired a new stake in Bank of America in the 4th quarter worth about $29,000. Finally, Glass Jacobson Investment Advisors llc grew its holdings in Bank of America by 53.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider’s stock valued at $35,000 after buying an additional 276 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Robert W. Baird upgraded Bank of America from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $45.00 to $50.00 in a report on Friday, March 7th. Truist Financial decreased their target price on Bank of America from $50.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Oppenheimer upped their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Piper Sandler cut their price objective on Bank of America from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $47.20.

Bank of America Price Performance

NYSE BAC opened at $37.35 on Thursday. The company has a 50-day moving average price of $41.65 and a two-hundred day moving average price of $43.62. Bank of America Co. has a 52 week low of $33.07 and a 52 week high of $48.08. The stock has a market cap of $283.96 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $27.37 billion for the quarter, compared to analysts’ expectations of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a $0.26 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.78%. Bank of America’s dividend payout ratio is presently 32.30%.

Bank of America Company Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.